Direct foreign investment in tourism has grown by over 520% in the last five years in a sector that now generates nearly million jobs either direct or indirectly for the Dominican Republic.
A just-released study, “Dominican Tourism: A Sea of Opportunities” produced by the Hotel and Tourism Association of the Dominican Republic (Asonahores) in collaboration with Analytica and sponsored by the Banco Popular, reports that the credit portfolio for the tourist industry averaged RD$40 billion in 2016, annual growth of the sector was 28.4%.
The tourism sector, according to Jacqueline Mora, the executive director of Analytica, during the press conference to announce the study findings, said that tourism contributes 26% of hard currency income. For example, with regards to taxes, the report points out that for every 10 pesos that the sector pays in taxes, an additional 42 pesos are generated in the value chain.
Joel Santos, the president of Asonahores, explained the study is a tool that will facilitate decision-making in the sector because it covers key elements regarding competitiveness that have been identified by international agencies.
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Diario Libre
4 October 2017
